FREE BITCOIN

Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

Is It Possible To Earn XRP Through Ripple Mining? - Global Coin Report
Connect with us

Altcoins

Is It Possible To Earn XRP Through Ripple Mining?

Published

on

Ripple mining
READ LATER - DOWNLOAD THIS POST AS PDF

Thanks to the constant rise in popularity of cryptocurrencies, many new individual investors have decided to join the growing crypto space. After recent Ripple price surge, numerous new investors have developed an interest in this coin. Because of this, they started to explore it in order to find ways of earning XRP coins. As a result, many started to wonder how Ripple mining can be achieved, and what kind of mining rig do they need. This is what we will be addressing today.

Ripple mining is not possible

Yes, that is correct. Whether you’ve heard it on a forum, or if someone familiar with this coin has told you — the fact remains. Ripple is simply not mineable.

In fact, this is one of the biggest differences between Ripple and other digital currencies such as Bitcoin, Ethereum, TRON, and alike. The obvious question now is — why?

Well, there are several reasons why you can’t mine Ripple. The first one is the fact that ripple is controlled by a company. This is the same company that has created it, Ripple Labs. While the company denies having any great control over the currency, the fact is that they are the only ones who can create new XRP coins.

So far, the company has produced around 100 billion XRP, although only a part of it (39.8 billion) has been released into circulation. While most other coins also have a total supply, cryptos like Bitcoin can be mined until that total supply is released into circulation. In other words, the circulating supply of Bitcoin is constantly growing with each new block that gets ‘solved’. On the other hand, Ripple has its circulating supply fixed, and this will remain so until the company decides to release more coins.

How to gain XRP if not through Ripple mining?

There is only one way to get to XRP coins through mining, and that is to mine other cryptos. After doing so, you can either exchange them for Bitcoin and then buy XRP, or you can buy XRP directly if there is a trading pair for the currency you have mined.

In other words, the only way to get to XRP is to trade some other coin for it. If you ever run across a method that explains that you can, in fact, mine Ripple — it is likely a trick or a scam.

Ripple is a cryptocurrency for banks

It is widely known that banks and other financial institutions are not especially supportive of cryptocurrencies. And yet, numerous reports from all sides of the world claim that banks are opening up to Ripple, and are choosing it as their preferred coin.

This is not fake news, and Ripple is indeed targeted by many banks. The reason behind this is the fact that Ripple has created some very useful and much-needed products. These products, like xCurrent or xRapid, are used to improve the speed of financial transactions.

The technology that banks have been using up to this point is already getting old and is often not capable of meeting higher and higher demands. This is why the banks recognized the need to improve their tech. And, since Ripple is much more stable than most other coins due to the fact that there is a reputable company behind it, financial institutions decided to give it a chance.

In fact, the recent price surge is a direct consequence of this decision, as many believe that banks are finally getting ready to actually implement Ripple’s products. This would provide a coin with a unique use case that would make it essential for the future of transaction-making.

As for Ripple mining, it remains impossible. Because of this, everyone looking to get their hands on XRP tokens can either buy them or trade another coin for them.

For the global insights every crypto trader must have, apply for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

Top 4 Cryptocurrencies to Bet on in 2019

Published

on

top 4 cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto winter ended and Bitcoin is breaking through the $5000 resistance barrier and leading a general charge in bullishness among cryptocurrencies has seen more positivity in the market than ever before. However, before any talk of a crypto spring should start, we need to look at what happened during the winter.

Many different platforms were either fully released or improved upon significantly. There has been a surge of innovation and the crystallization of ideas. The market isn’t just about crypto trading or bitcoin trading; it has become more about what businesses will leverage blockchain in the best way. Investors need to look at what a coin offers beyond just being a cryptocurrency. What partners does it have, what is the long term plan and is it liquid enough?

Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly. More and more tokens and coins are surviving and thriving on their own merits rather than riding in Bitcoin’s wake.

The four coins to follow are our pick for the top 4 cryptocurrencies most likely to give you substantial returns by the end of 2019.

Stellar Lumens (XLM): Cheap coin, and massive market to grow

Continue Reading

Altcoins

2019 Will Be a Big Year for Luxcore

Published

on

Luxcore
READ LATER - DOWNLOAD THIS POST AS PDF

With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

Continue Reading

Altcoins

Can XRP Break Out of the Falling Wedge?

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

XRP is the third largest cryptocurrency by market cap, which currently sits at around $13.5 billion. The coin also has a price of $0.325316 at the time of writing, after seeing a significant price correction of 4% in the last 24 hours.

Just like many other cryptocurrencies, XRP has seen massive losses during the 2018 bear market. However, this falling wedge seems to have seen a real breakout in 2019, as the crypto winter started to let go, and a lot of coins saw significant price recoveries.

XRP’s falling wedge was much more difficult to stop, which can be seen on its long-term chart. But, the recent bull runs allowed numerous cryptocurrencies to finally see growth, and XRP is definitely one of them. The charts also show that the coin’s falling wedge has seen a breakout, which is an excellent thing for the future of XRP’s price.

However, for the coin’s price to truly turn and stay bullish, XRP needs to see larger volumes. The experts believe that this is the key for a new rally, one which would allow XRP to reach true recovery.

XRP price performance and predictions

As mentioned, XRP had struggled to start growing even when most other cryptocurrencies were drawn in a number of bull runs. While the coin has been acting the same as others until mid-February, it is clear that the…

Continue Reading

Elite